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Catalyst Metals Ltd.
Summary
| Project: | Four Eagles | |
|---|---|---|
| Deposit: | Boyd's Dam, Boyd North, Hayanmi, Four Eagles | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-6-2017: Catalyst Metals Ltd. announces an Exploration/Drilling Update report for its Boyd's Dam, Boyd North, Hayanmi, Four Eagles deposit at the Four Eagles project. JV - drilling results incl. 9.0m @ 10.2g/t Au from 42m. Catalyst Metals Limited (Catal | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Bruce Kay (Internal) | |
| ABSTRACT: | Catalyst Metals Limited (Catalyst or the Company) (ASX: CYL) is pleased to advise that a potential new gold discovery has been made while testing the geophysical gravity targets at the Four Eagles Gold Project. Air Core hole FE847 intersected 3.0 metres @ 4.8g/t Au from 123 metres on Gravity Target 3 which lies about 3 kilometres south west of the known mineralised area and low grade gold mineralisation was also intersected on Gravity Target 4 (Figure 2). This structure is loosely termed the Eagle 1 Structure and is virtually untested over its interpreted 10 kilometre strike length. More assays have also been received from reported drilling programmes at Boyd’s Dam-Boyd North, Hayanmi and Discovery Prospects at the Four Eagles Gold Project and show further high grade zones of gold mineralisation. Many assays are still outstanding especially bulk leach assays of zones which contained anomalous gold values. Catalyst retains a 50% interest in the Four Eagles Gold Project whilst Gold Exploration Victoria Pty Ltd (GEV) (a subsidiary of Hancock Prospecting Pty Ltd) is earning up to a 50% interest from Providence Gold and Minerals Pty Ltd by spending $4.2 million on exploration. To date, GEV has already earned a 25% interest in the Four Eagles Gold Project by spending $2.1 million and should complete the remaining expenditure during 2017. The Four Eagles Gold Project and the Tandarra Gold Project are situated about 15 kilometres apart along the Whitelaw Fault Corridor which is considered to be a major structural control of gold mineralisation north of Bendigo. Catalyst manages the entire Whitelaw Gold Belt and has interests in eight Exploration Licences which extend for 75 kilometres along the Whitelaw and Tandarra Faults north of Bendigo in Victoria (Figure 1). The Company has also lodged a large exploration licence application (Drummartin EL006507) over two potential regional faults to the east of Four Eagles, north of the Fosterville Gold Mine. | |
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